Connecting You Across Borders

No, NRIs cannot continue using a Resident Savings Account once their residential status changes. It is mandatory to convert the resident account to a Non-Resident Ordinary (NRO) Savings Account.

To convert your Resident Savings Account to an IDFC FIRST Bank NRO Savings Account, submit a change-of-status request with valid NRI documentation like passport, visa, and overseas address proof. Enjoy features like high interest rates, 24/7 fund transfers, fand a free VISA Signature Debit Card with airport lounge access, high daily limits, and zero charges on ATM or NEFT/RTGS transactions.

IDFC FIRST Bank NRI Savings Accounts are available to Non-Resident Indians (NRIs), Persons of Indian Origin (PIOs), Overseas Citizens of India (OCIs), Seafarers working on international vessels, and employees on international offshore or oil rig projects.

IDFC FIRST Bank offers three NRI Savings Account options:

• • Non-Resident External (NRE)
• • Non-Resident Ordinary (NRO)
• • Seafarer Savings Account

IDFC FIRST Bank offers the following NRI products, each designed for specific needs:

• • Non-Resident External (NRE) Savings Account
• • Non-Resident Ordinary (NRO) Savings Account
• • Seafarer Savings Account
• • NRE Fixed Deposit
• • NRO Fixed Deposit
• • Foreign Currency Non-Resident (FCNR) Deposit
• • Global Saving Account USD/ EURO
• • GIFT City Fixed Deposit USD/ EURO

When opening an IDFC FIRST Bank NRI Savings Account (NRE or NRO), you can request a Debit Card and Chequebook during the application process. If missed, you can apply later through internet banking, the mobile app, or by contacting customer care.
The account comes with a free VISA Signature Debit Card that includes complimentary domestic lounge access, higher ATM and shopping limits, and insurance covers. Chequebooks are issued free of charge with doorstep delivery for added convenience.

If you missed requesting a Debit Card during account opening, simply apply via IDFC FIRST Bank's mobile banking app, internet banking, or contact customer care.

For IDFC FIRST Bank Non-Resident External (NRE) Savings Accounts, the interest earned is tax-free in India under current Income Tax laws. However, the interest on Non-Resident Ordinary (NRO) Savings Accounts is taxable as per Indian tax regulations and is subject to Tax Deducted at Source (TDS). Interest on both NRE and NRO accounts is calculated on daily balances and credited monthly. NRIs should consult a tax advisor to understand the implications in their country of residence as per the Double Taxation Avoidance Agreement (DTAA), if applicable.

To make the most of your banking relationship with IDFC FIRST Bank, maintaining an Average Monthly Balance (AMB) of ₹25,000 in your NRE and NRO Savings Accounts is ideal.
Customers can choose the NRI account variant based on their needs without worrying about hidden charges or penalties.

Yes, funds in the IDFC FIRST Bank Non-Resident External (NRE) Savings Account are fully and freely repatriable, meaning you can transfer funds abroad anytime without restrictions. This includes both the principal, and the interest earned.
NRIs are permitted to repatriate up to $1 million per financial year from their Non-Resident Ordinary (NRO) account. This limit allows the repatriation of both the principal after payment of taxes. The interest component is fully repatriable.

To open an IDFC FIRST Bank NRI Savings Account, you are required to submit documents under four major categories:

• • Proof of identity such as a passport
• • Address proof
• • NRI/ PIO proof/ CDC booklet in case of seafarer

While opening an NRI Savings Account, IDFC FIRST Bank generally accepts attestations from:

• • Authorised officials of overseas branches of scheduled commercial banks registered in India
• • Branches of overseas banks with whom Indian banks have relationships
• • Notary Public Abroad
• • Court Magistrate
• • Judge
• • Indian Embassy/Consulate General
• • Overseas post office
• • Exchange houses having tie ups with Indian banks
• • Mayoral Office
• • Ministries in Gulf Regions
• • Solicitor/Registrar.

An IDFC FIRST Bank NRI Savings Account can have a maximum of 5 account holders: 1 primary holder and up to 4 joint holders. This applies to Non-Resident External (NRE) as well as Non-Resident Ordinary (NRO) account types.

To open an NRI Savings Account, the primary applicant must have a valid Non-Resident Indian (NRI) status. Joint holders can include up to four NRIs. If an Indian resident is added as a joint holder, the account must be operated in the ‘Former or Survivor’ mode*, and only one resident joint holder is permitted in such cases.
*Former or Survivor mode lets the second holder access the account only post the demise of the first holder (primary holder).